Get your hand of choice on that fib tool. Look at ETH on the daily. Drop it down on DAO hack back last year and line it up with the hardfork that followed to recover stolen funds. Notice now the 8th sequence in the fib lines up exactly with the GDAX flash crash and reimbursement. Well, the events are clearly connected.
Going to talk about circles now. Most of you are in circles. Stuck in loops. Circle life is pretty much victim path. I mean you are moving forward or at least you think you are but you leave point a and get to point b and it's the same place. It can be confusing because despite making changes to variables somehow the end result is identical. e.g. got more $$ but all your probs still exist. i.e. Haven't really shifted.
Now the Q. is here, has Ethereum learned the lessons? Have they done the hard work or will the past repeat?
Ok look at the spiral. This is where we get spiritual. Spiral is like spiritual. Similar words. Anybody can see that. So what is spiritual? Well it's a spiral and it's a ritual. Ritual. A sequence of stuff repeated. That rituals you choose create your definition, your boundaries, your self. And that's all you are trading here: your self. Now the ritual is about rites of passage. And they always involve letting go. Great traders are highly spiritual often whether they know it or not. Masters of holding on and letting go. That's the whole game. Sacrifice.... letting go of something smaller for something greater. This is what shifts position and creates elevation. Repeat, repeat, repeat. It's about daily discipline. The victim avoids the repetition, doesn't he? The victim fears shifting and sits in comfort. The victim holds too long and fears letting go. He also avoids stepping in when the competition is high for fear of loss. Avoids the hard work because it mean more hard work. Out of fear, they don't make a choice. Take Bitcoin for example, you see the developers don't want to make any changes that won't be completely eternal. They don't really want to work if it means they are going to have to go back and do it again, in other words, if it's not the ultimate scalable solution they won't even bother. Unwilling to fail is basically a recipe for stagnation. To create perfection requires many many awkward stumbles along the way. This is where I see the culture of Eth far far superior to Btc .
Back when Ethereum did the hardfork after the hack, real decentralisation purists turned sour on ETH. When you disrupt the comfort the tribe is really going to not like that. People love comfort & the status quo. They love creating their little world view and if anybody challenges that you go from being loved to outcast real quick. Love it or hate it, Vitalik did the unpopular thing to religion of decentral and forked, and it appeared all that followed for a long time was price dumpage. That's the dark path. It's lonely. It's uncertain. There'll be losses. The hero walks into the dark and finds comfort only in the uncertainty. It's the ultimate risk, and of course, the ultimate reward.
Now we have a another Ethereum Hardfork right around the corner. 25th of June today which marks the day that Metropolis can begin rolling out (See: https://www.reddit.com/r/ethtrader/comments/67d2ts/metropolis_release_on_the_25th_of_june_mentioned/. The next big hardfork. Scaling problems solved. Usability enhancements. Reduced complexity. There's a lot of stuff coming. A lot of hard work has gone into it, and we see that when it is released over the coming period, whether it is today or the next month it's going to bring with it a huge rally with Ethereum making headlines frequently. Hero reborn sort of scenario. Make a choice.
If you want to see if something is going to repeat a pattern or if it's going to spiral upwards you have to analyse if there has been a willing death / transformation. I see there has been death because of the strong purist anti-eth vibe in this space.
Now I want to talk a bit more about the speculative side of things which likens current time period to the DAO hack and hardfork that followed.
I don't see a hack as being the potential risk/opportunity ahead but the thing looming is potentially this SEC ETF and some regulations coming about ICOs.
Could go 2 ways
1. System just gives a big serving of NOPE. No more ICO's. and Eth price crashes a bit.
2. System realises US citizens are missing out on massive wealth opportunities by limiting their ICO possibilities, and that IPO's are redundant, slow and costly and that Ethereum makes it possible to solve a huge headache and bureaucracy around raising capital and gives the go ahead.. with some regulations. Eth price soars. US gets wealthier.
Ok, now how the GDAX reimbursement comes into this. Checkout the following passage from some of this fun to read SEC stuff:
“Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest”
GDAX obviously wants to see Ethereum succeed and has done what is required to prevent serious loss of investors. You may not like it, but you should know by now that what you like is not really what this world is about.
Ethereum ticks the box for what, in my opinion, the SEC is looking for. The undoing of hacks and theft is a form of security that many, actually most investors are interested in. Meanwhile, completely decentralised, 'code is law' ideologies is not in the interest of the system, which is why Bitcoin et al will struggle getting approval. It's not a flaw of Bitcoin, rather its feature and therefor, they are just not compatible systems.
Finally, as mass media all seem to be getting on board talking about Bitcoin price, but basically echoing the same chorus that Ethereum is like Bitcoin, but better and can do more than what Bitcoin can do, giving it an approval will be another huge blow to BTC and potentially be the thing completes the flippening.
Not a lot of liquidity in ETH/Fiat pairs, so big Eth holders sell to BTC then sell to fiat, bringing everything down. Suddenly I bet you're wishing you weren't telling everybody you know that Eth isn't worth shit. Funny thing about life is, about the worst thing that can happen is that you get what you want. Well, you're pretty convincing, and now ICO's with hundreds of millions of dollars worth of Eth just might have finally believed you and want to get out of it because they believe, like you said, that it's worthless. Oh you thought you could just run your mouth off on twitter all day and you were just going to get gains?
So here we are. A big shit storm. You can blame eth. Victims always blame. Now what are you going to do about it? Because unless there's some mega shift in the matrix ico's are going to continue and money is just going to make it's way rapidly out of crypto and back into fiat. Now you see. Better start up that Ethereum shill engine stat and change your tone boys.